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Oct 31, 2020
Casey's Q2 2021 Earnings Report
Casey's reported a strong second quarter of fiscal year 2021, driven by favorable fuel margins and higher inside sales.
Key Takeaways
Casey's General Stores reported diluted earnings per share of $3, a 36% increase, driven by stronger fuel margins and higher inside sales volumes. The company also announced an agreement to acquire Buchanan Energy and raised the dividend.
Diluted earnings per share rose 36% to $3 per share.
Fuel gross profit was up 45% compared to the prior year, with a fuel margin of $0.353 per gallon.
Same-store inside sales were up 3.5% for the quarter, with an average margin of 41%.
The Board voted to raise the dividend at the December meeting.
Revenue by Segment
Forward Guidance
Casey's is cautious in its outlook over the winter months due to the surge in COVID cases and related restrictions, which have started to take a toll on guest traffic.
Positive Outlook
- Developing news around vaccine progress should give all of us cause for optimism
- Balance sheet will remain strong post close, which will enable us to continue to execute on our strategic plan to accelerate further unit growth.
- The rewards members are stickier guests, so to speak.
- The guest experience in that digital space has been a positive one.
- The company is well positioned financially to take on whatever challenges and opportunities may come our way in the back half of this fiscal year.
Challenges Ahead
- COVID cases have surged throughout the Midwest
- Traffic start to slow a little bit.
- Mid teens decline in fuel gallons sold quarter to date.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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